Tuesday, May 01, 2012

Bank of England loses control of UK mortgage interest rates!

As long predicted on this blog, the utter stupidity of the low interest rate policy is finally resulting in an interest rate market breakout beyond the control of the Mervyn King and his over-paid, inflation-proofed minions at the BoE.

Millions of homeowners will soon be hit by the consequences of monumental mismanagement on a truly massive scale.

News of the higher interest rates effective from many lenders from today is linked here.

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Blogger Robert said...

But will they also increase the rates for savers?

9:49 PM  
Blogger WhatHouse.co.uk said...

The whole system just keeps being propped up by various government schemes such as developer funded mortgages. It will take years and years for the property market to recover in the UK.

5:17 PM  

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